SILVER MINES LIMITED — Capital/Financing Update 2023

Feb 15, 2023

Level 28, 88 Phillip St Sydney NSW 2000 T: +61 2 8316 3997 F: +61 2 8316 3999 Info@silvermines.com.au www.silvermines.com.au

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16 February 2023

Company Announcement Officer ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

CLEANSING NOTICE

This notice is given by Silver Mines Limited (“ Issuer ”), under section 708A(5)(e) of the Corporations Act 2001 (“ Act ”).

Following completion of the placement completed by the Company and as announced to the market on 10 February 2023, the Issuer today issued 112,187,500 fully paid ordinary shares at an issue price of $0.16 per share (“ Shares ”) to institutional, professional and sophisticated investors.

The Issuer advises that:

• (a) the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• (b) this notice is being given under sections 708A(5)(e) of the Act;

• (c) as at the date of this notice, the Issuer has complied with:

• (i) the provisions of Chapter 2M of the Act, as they apply to the Issuer; and

• (ii) section 674 of the Act, as it applies to Issuer; and

• (d) as at the date of this notice, there is no information that is ‘excluded information’ within the meanings of sections 708A(7) and 708A(8) of the Act.

This document was authorised for release by the Managing Director of the Issuer, Mr Anthony McClure.

Yours faithfully Silver Mines Limited

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Trent Franklin Company Secretary

Silver Mines Limited ABN: 45 107 452 942

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